Tuesday, August 9, 2022

HMRC is using the wedding season to issue a reminder to married couples and those in civil partnerships to sign up for marriage allowance if they are eligible and haven’t yet done so. The marriage...

Tuesday, August 9, 2022

The Customs Declaration Service (CDS) is a new customs IT platform that has been designed to modernise the process for completing customs declarations for businesses that import or export goods from...

Tuesday, August 9, 2022

The government plug-in grant was first introduced 11 years ago to help drivers make the move to owning an electric car. Since the scheme was introduced the amount of the grant available reduced...

Tuesday, August 9, 2022

The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation...

Tuesday, August 9, 2022

The final step in bringing a company to a legal end is dissolution. However, one of the important points to consider when doing so is that the dissolved company can no longer do or receive anything...

Tuesday, August 9, 2022

The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax and secondary National Insurance contributions (employer (NICs)) by...

Tuesday, August 2, 2022

Here is a reminder of any duty payable and tax-free allowances if travelling abroad this summer. If you are travelling from outside the UK and arriving home in Great Britain (England, Wales and...

Tuesday, August 2, 2022

There is a benefit in kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees or any other BiK classed as...

Tuesday, August 2, 2022

The easiest way to ensure that no car-fuel benefit charge (for private journeys in a company car) is payable, is to use the advisory fuel rates published by HMRC to repay any private fuel costs to...

Tuesday, August 2, 2022

There is no statutory definition of ‘trade’. The only statutory reference to the term is that ‘trade’ includes a ‘venture in the nature of trade’. This absence of a formal definition decides if an...

Tuesday, August 2, 2022

The Annual Investment Allowance (AIA) is a generous tax relief that was first introduced in 2008. The AIA allows for the total amount of qualifying expenditure on plant and machinery to be deducted...

Tuesday, August 2, 2022

There are special rules known as the miscellaneous income sweep-up provisions that seek to charge tax on certain income. This unusual provision, which is broad in scope, catches income that would not...